Luigi Lovaglio

Luigi Lovaglio has served as Chief Executive Officer and General Manager of Banca Monte dei Paschi di Siena since February 2022 and was reconfirmed in April 2023 and again in April 2026. 

Under his leadership, in November 2022 the Bank successfully completed a €2.5 billion capital increase, followed by a consolidation and sustained growth process that delivered a significant and continuous improvement in profitability and risk profile. This progress enabled the Bank to launch a public tender and exchange offer (OPAS) for Mediobanca in January 2025, which was successfully completed in September of the same year. The transaction resulted in the creation of Italy’s third-largest banking group.

From February 2019 to June 2021, Mr. Lovaglio served as CEO and Managing Director of Credito Valtellinese, after holding the position of Chairman from 15 October 2018 to 25 February 2019.

He has over 40 years of experience in the banking sector, most of which was spent at the leading international banking group UniCredit, which he joined in 1973. Over the following 20 years, he held a number of management positions with increasing levels of responsibility, leading different commercial business areas across Italy for more than a decade.

In 1997, he was appointed Head of Group Planning and Strategy at Credito Italiano, where he was involved in the integration process of the newly acquired banks that led to the creation of today’s UniCredit Group. Two years later, in 1999, drawing on his extensive M&A experience, he was appointed Head of Planning for Foreign Banks, becoming one of the key founders of the New Europe Division, aimed at developing the UniCredit Group in Central and Eastern Europe.

Between 2000-2003, he served as Deputy Chairman of the Management Board and Executive Director of Bulbank AD - the largest bank in Bulgaria. In September 2003, he was appointed General Manager and Vice President of Bank Pekao Poland. From 2006 to 2007, he successfully implemented the merger and spin-off of BPH (Poland’s third largest bank and part of the German HVB Group), a transaction considered unique in the financial world. In 2011, he was elected Chairman of the Management Board and CEO of the Bank, a position he held until June 2017, when Unicredit sold its controlling stake in the Bank to Polish state-owned entities. Under his leadership as CEO, Pekao, with approximately 15,000 employees, became the country’s leading company by market capitalisation (exceeding EUR 10 billion), delivering strong and sustainable results while achieving one of the highest levels of capital strength in Poland. His focus on long-term, sustainable returns and ethical principles also led to the decision to no longer offer CHF-denominated loans to retail customers, thereby sparing the Bank from the significant issues that later affected the entire Polish banking system.

Since July 2022, Mr. Lovaglio has served on the Board of the Italian Banking Association (ABI), and since December 2025 he has also been a member of its Executive Committee.

He holds a degree in Economics and Business from the University of Bologna. In 2008, he was awarded the title of Commander of the Order of the Star of Italian Solidarity in recognition of his outstanding contribution to the development of economic cooperation between Poland and Italy.